Broker Question: Commission Advances?
Started by Apt_Boy
almost 15 years ago
Posts: 675
Member since: Apr 2008
Discussion about
Question for Real Estate Brokers: Would you be interested in a product that would advance to you your commission upon the signing of a sales contract? Mechanics: Contract Signing Date: January 1 Expected Net Commission: $20,000 Expected Closing Date: March 31 Advance: $18,000 on January 1 Closing Date: Full Commission forwarded to Lender Short delays in closing are allowed. If closing does not occur, only the $18,000 must be returned, no penalties or fees. Would this be of interest and how many brokers do you think would be interested? Thanks for your feedback in advance!!
Great idea for an investor: 30% on your money. It's like lending to personal-injury plaintiffs, or on tax refunds, pay-day loans, etc.
Yawn. Already available.
Yes, but current rates are at least double...if it is available and this product is less expensive, would it be of interest?